Gasoline Prices Set to Rise Through Election Day

Source: CNBC

Retail gasoline prices, already at the highest levels on average since July 2008, are likely to continue to climb this month as refinery and pipeline problems overshadow weakness in U.S. consumer demand.

On Wednesday night, a fire broke out at Exxon's Baytown, Texas refinery, a 584,000 barrel per day facility that is the largest operating refinery in the U.S.

Exxon said there may be "some impacts to production" from the fire, but the plant will resume normal operations. A partial shutdown of the Colonial Pipeline, the nation's largest oil product pipeline, also contributed to supplies fears, as it impacted the portion of the line carrying gasoline from Atlanta to Nashville.

"It will only take another refinery issue and a bit more of geopolitical noise to have the first U.S. election at a US average gasoline price of $4 a gallon," says energy analyst Olivier Jakob of Petromatrix. (Read More: Gas Prices Jump Up to 20 Cents Overnight in California)

The national average for regular unleaded is now at $3.79 a gallon, basically on par with where pump prices were last Friday.

10. Refinery and pipeline problems? Hmmm?

Makes you wonder, Oil barons giving money to a certain candidate? A certain party making claims that gas prices have more than doubled under their opponents administration? Oil companies mysteriously having "problems" ahead of an election?

18. "...refinery and pipeline problems..."

19. I hate to sound like one of those "Jobber truthers" but.....

this stinks. The explanation I heard on NPR for the 12 cent overnight jump in California was a few "events" at California refineries. One was a "power outing" - I don't know the specifics but that sure is a coincidence now isn't it?